Asset Management

Retail Redevelopment Analysis (Connecticut, New York)

Analyzed the redevelopment potential of six shopping centers in Connecticut and New York as part of a detailed asset analysis undertaken in a Chapter 11 restructuring plan formulation process involving a Connecticut real estate development and management company. 

 

Retail Development Project (Taunton, Massachusetts)

Analyzed the development feasibility and market potential of a 53 acre retail land site abutting a 1.1 million square foot regional mall in Taunton.  The project later involved interviewing and screening preliminary proposals from ten different retail developers, soliciting detailed development proposals from three shortlisted companies, and choosing the most qualified developer.

 

Asset Repositioning and Redevelopment Analysis (Rhode Island)

Analyzed the redevelopment potential of two existing urban shopping centers and the development potential of four residential sites in various stages of buildout as part of a large portfolio restructuring and property repositioning plan for a Rhode Island developer.

 

Regional Mall Development Project (Chesire, CT)

Analyzed the feasibility of developing a well-located 150 acre retail land site into a 300,000 square foot power center (Phase I) and a 1 million square foot regional mall in Cheshire and Southington, CT.

 

Development Re-use Analysis (Tewksbury, Massachusetts)

Analyzed the feasibility of converting a 45,000 square foot, 63 bed alcohol detox clinic in Tewksbury into an alternative health care/residential facility (e.g. nursing home, intermediate care facility, congregate care, hospice facility, specialty or medical care facility).

 

Land Disposition and Development (Delaware River Valley)

Worked with the owner of a 3,000 acre assemblage of undeveloped land in the outer-suburban area of New York City to structure and implement a partial disposition for three land parcels each in excess of 1,000 acres.

 

Industrial to Residential Use Conversion (Saugus/Lynnfield, Massachusetts)

Worked with the corporate owner of 60 acres of surplus land to convert its use to a planned subdivision of single family residences.  The project required a detailed review of physical site constraints (e.g. topography, soils, groundwater and depth to bedrock) as well as zoning, site access, aesthetic considerations and regulatory issues associated with both towns (site straddled the municipal boundary of two towns).

 

Joint Venture to Privatize MBTA (Massachusetts)

Formed and co-directed a joint venture team of real estate professionals and technical support professionals to compete for the Massachusetts state privatization of the MBTA's (regional transit authority) real estate management and development operations.

 

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  Project Management

Managed RFP Process for Residential Development (Milton, Massachusetts)

Designed, directed and managed a solicitation of development proposals (RFP) from the New England development community on behalf of a Massachusetts charitable trust with oversight by the Massachusetts Attorney's General office to convert a  32-acre historic residential property in Milton into an expanded development of approximately 300 units of elderly assisted living housing.  The RFP attracted over ten interested development firms and a detailed design and financial review screening process was used to select a winning bid among three exceptional final proposals. 

 

Development Joint Venture (Seattle, Washington)

Directed the financial analysis and development feasibility review for a joint venture pursuing the master planned, mixed-use development (office buildings, retail, apartments, condos and a hotel) of a five-block assemblage of waterfront land under competitive bid with the Port Authority of Seattle.

 

Cost-Benefit Analysis of Proposed Convention Center (Boston, Massachusetts)

Conducted a cost-benefit analysis for the proposed expansion of the convention center in downtown Boston (Hynes Convention Center) for the Boston Municipal Research Bureau.  The analysis involved review of design plans, development budgets, market research, economic modeling of projected tax receipts and the expansion impacts and associated costs on the neighborhood.  The study was published by the Municipal Research Bureau for distribution to the state legislature, the Mayor's office, and the general public.

 

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  Development

Mixed Use Waterfront Development Project (Miami Beach, Florida)

Directed a project team of financial analysts, architects, engineers, and design professionals to outline a detailed development proposal for a 1.6 million square foot mixed use waterfront project in Miami Beach.  The development project, which incorporated an existing 400-slip marina as part of the proposed assemblage, included 1,100 new residential units in four complexes, 44,000 square feet of retail space, structured parking for 1,990 cars and a public amenity and open space element to meet community development and neighborhood revitalization objectives.  The project required the acquisition of three land parcels from the portfolios of an advisory firm, an investment bank and a private trust to accomplish the assemblage.

Large-Scale, Mixed-Use Redevelopment Project (New York, New York)

Analyzed the development feasibility, directed a zoning constraint analysis, pursued the regulatory permits and structured the financing for a five-block assemblage and redevelopment of historic mercantile buildings in South Street Seaport's historic district into a master planned, mixed-use project involving a hotel, office space, apartments, co-ops, and ground level retail space.  The project, which represented the second largest development project in the district, involved the review and approval of 27 municipal, regional, and state agencies and was subject to the constraints of the historic district master plan as well as five overlay zoning districts. 

 

Mixed-Use Time Share Hotel/Retail Development (Newport, Rhode Island)  photograph

Worked with the project team of architects, engineers and marketing and sales staff to finance, develop and sell out this $14.5 million, 160-unit timeshare hotel and retail center in downtown Newport. Services performed included market analysis, design revision based on market analysis, cash flow projections, and raising capital for the project.  Directed the timeshare sales program and managed the sales staff upon funding and construction of the project. 

 

Townhouse Condominium Development Project (Jackson, New Hampshire)  photograph

Served as part of the development team for a three-phase, 120 unit townhouse condominium project in Jackson (Mt. Washington Valley area). Tracked unit construction and sales and analyzed the ongoing financial performance of the project.  

 

Townhouse Condominium Development Project (Lynnfield, Massachusetts)  photograph

Served as part of the development team for a two-phase, 160 unit townhouse condominium project in Lynnfield.  Provided marketing support, analysis of financial performance, and on-site project tracking for the project team. 

 

Resort Condominium Development (Snowshoe Mountain, West Virginia)

EREA was part of the professional team that designed, developed, constructed, and sold the residential condominiums of a 235-unit, year-round resort project at Snowshoe Mountain in West Virginia.

 

Formation of Development Joint Venture (New York, New York)

Structured and negotiated a joint venture development agreement between a New York City company and a large national real estate development company to convert 500,000 SF of enclosed Hudson waterfront pier space in Midtown Manhattan to sound studios and production space for the television and film industry.  Also advised the client on project design, regulatory-related issues and coordination of project scoping with the joint venture partner.

 

Office/Industrial Redevelopment (Norwood, Massachusetts)

Acquired, renovated and repositioned a 45,000 square foot office showroom and warehouse facility near the intersection of Route 128 and Route 1 in Norwood.  The redevelopment required the replacement of the roof and roof system, gutting and re-demising the office area, building out bathrooms and a kitchen area, replacing part of the sprinkler system and renovating the exterior half of the building. 

 

Office/Industrial Redevelopment (East Providence, Rhode Island)

Acquired, renovated and repositioned a two-story, 30,000 square foot office and industrial building in East Providence.  The redevelopment involved the gut rehab of the interior, removal of hazardous materials from the building, rebuilding of the elevator cabs, repairing the exterior of the building and various site features (including the brickface masonry, sidewalks, parking lot area and loading dock area), and remediating contaminated soil onsite.

 

Hotel Conversion Project (New York, New York)

Analyzed the development feasibility and structured the joint venture agreement for converting a failed 120-unit residential condominium in lower Manhattan into a 120-unit extended-stay suite hotel.  The project required analyzing the structural features of the existing building, drafting design specifications for the hotel conversion and re-use of ground floor common areas, establishing a development budget based on plans and specifications, analyzing the market for this product in lower Manhattan and assembling and analyzing operating cash flow projections and financial returns of the project. 

 

Manufactured Housing Development Project (Harrisonville, New Jersey)

Analyzed the feasibility and structured the multiple-phase development program for a 575-unit manufactured housing residential development project near Harrisonville.

 

Mill Building Conversion to Self-Storage (Peabody, Massachusetts)

Acquired and repositioned a 45,000 square foot, three-story historic mill building for re-use as a self-storage facility.  The conversion required town approval of a special permit and substantial repair and renovation of the building exterior, interior, and systems (including the replacement of the elevator).